7100-AE98 201810 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 7100 Federal Reserve System FRS Regulation J--Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire. (Docket No: R-1599)

The Board of Governors of the Federal Reserve System (Board) is publishing for comment proposed amendments to Regulation J.  The proposed amendments are intended to clarify and simplify certain provisions of subpart A of Regulation J, remove obsolete provisions, and align the rights and obligations of sending banks, paying banks, and Federal Reserve Banks (Reserve Banks) with the Board's recent amendments to Regulation CC, Availability of Funds and Collection of Checks, to reflect the virtually all-electronic check collection and return environment.  The proposed rule would also amend subpart B of Regulation J to clarify that terms used in financial messaging standards, such as ISO 2022, do not confer legal status of responsibilities.

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Proposed Rule Stage No No Independent agency 12 CFR 210.2(i) 12 U.S.C. 4001 No Board Requested Comment 03/15/2018 83 FR 11431 Board Expects Further Action 10/00/2018 No None No No No No Clinton Chen Senior Attorney 7100 Federal Reserve System FRS 202 452-3952 Legal Division, Washington DC 20551 Stephanie Martin Associate General Counsel 7100 Federal Reserve System FRS 202 452-3198 Legal Division, Washington DC 20551